Education Loan Salem

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Education Loan Salem

About Education Loan Salem

An education loan is a sum of money borrowed to finance college or other school-related expenses. Payments are often deferred while students are in school and for a six-month grace period after graduation

Education loan Salem is a loan made for students. The loan amount is enough to cover all your educational expenses, starting from books and instruments, to accommodation and other college charges. Both students and their parents can apply for it, and the application process is very simple. Indian banks are offering various education loan schemes. These schemes are available for every citizen of India, regardless of the college or study program he/she has chosen. It covers the costs of graduation and post-graduation programs and other verified courses.

Thus, every child needs a quality education in order to lead a complete, successful, and comfortable life. Unfortunately, such education comes at a cost that not everyone who deserves it can afford. That is where education loans come into play. Education loans are funds offered by banks and financial institutions to meritorious students to help them pursue their dream course.

Major Education Loan Banks Providers in Salem

Education Loan Criteria Avanse Education Loan SBI Education Loan HDFC Education Loan
Interest Rate 10-16.50% 7.45% 9.50%-13.3%
Loan Amount Up to 25 Lakhs Up to 1.5 Crores Up to 20 Lakhs
Tenure Up to 10 Years Up to 15 Years Up to 15 Years
Processing Fee 2.00% 2.00% 1.0%
Loan For Abroad Studies Yes Yes Yes
Online Approval Yes yes Yes
Apply Online Avanse Education Loan SBI Education Loan HDFC Education Loan

Top Institutes for Education Loan in Salem

Types of Colleges in Salem

  • Engineering college
  • Biotechnology college
  • Medical college
  • Pharmacy college
  • Management college
  • Architecture college
  • Law college
  • Science, Commerce, and Arts college
  • Physical education college
  • B.ED college

Top 10 Colleges in Salem

  • Sona College of Technology
  • Government college of engineering
  • Knowledge Institute of technology
  • AVS Engineering college
  • Indian Institute of handloom University
  • Dhiraj Lal Gandhi College Of technology
  • Salem College of engineering and technology
  • The Kaveri college of engineering
  • Tagore Institute of engineering and technology
  • Mahendra College of engineering

Top 7 Universities in Salem

  • Narasu Sarathy Institute of technology
  • Vinayaka Mission University
  • AVS Technical Campus
  • Periyar University
  • Salem Sowdesawri college
  • SRS college of engineering and technology
  • Mahendra college OF engineering

Courses Offered:

Courses Offered
B.Sc M.Sc
B.Com M.Com
B.E, B.Tech M.E, M.Tech
B.Pharm. M.Pharm.
BHM PG Diploma in Hotel Management
B.Arch M.Arch

Types of Expenses covered by Education Loan Salem

Expenses Covered Courses Covered
Studying in India Studying Abroad
  • Hostel or mess charges
  • Entire tuition fee
  • Books, equipment, and instrument cost
  • Cost of laptop or computer, if required for the course
  • Library and laboratory fees
  • Examination fees
  • Accommodation cost, if there is any
  • Admission acceptance fee
  • All other necessary expenses in relation to study tours, thesis, project work, etc. till the course completion
  • Insurance premium for the borrower
  • Professional/ technical/ regular diploma/ degree/ Graduation/ Post-Graduation courses from UGC/ AICTE/ IMC/ ICMS/ AIBMS/ ICMR/ Govt. approved institute or IIT/ IIM, IISC/ NIFT/ XLRI , etc.
  • Engineering, Aeronautical, Medical, Veterinary, Dental, Law, Computer, Management, teacher training, nursing courses, etc.
  • Courses such as CA, CFA, ICWA
  • Professional/ Job-centric/ technical/ diploma/ degree/ Graduation/ Post-graduation courses such as MBA/ MCA/ MS etc.
  • Courses from CIMA UK, CPA in the USA, etc.

Documents Required for Education Loan Salem

The following Education loan Salem Documentation required:

  • Duly filled and signed education loan form with affixed photographs
  • 2 passport sized photographs
  • Copy of 10th and 12th standard mark sheets
  • Statement of cost of study and course expenses
  • Government ID and Pan Card of student and parents/guardian
  • Proof of age – Aadhaar card, voter ID, passport, driving license
  • Proof of identity – Voter ID, Aadhaar card, passport, driving license
  • Proof of residence – Utility bill, rental agreement, last 6 months bank statement of the student or parent, gas book, ration card, telephone bill
  • Educational documents of the student:
    • Copy of fee acknowledgement slip
    • Admission letter to the educational institutions
    • Passing certificate
    • School leaving certificate
    • High School Examination mark sheet

How to Apply for Education Loan Salem

Education loan Salem

The banks provide education loan on various interest rates and each bank have some particular norms and eligibility criteria. You need to first check your eligibility, valid documents required, and interest offered by banks so that you can apply for an education loan. The selection of which bank provides the best offers become hard to find for you, so Here’s Dialabank will help you find out the best Education loan Salem offers suitable for you.

To apply online with Dialabank:

  • Click on this Education loan Salem
  • Check the eligibility and Documents
  • Fill the details
  • Check your details filled by you
  • Submit to “Get the Best offers.”

You can also apply offline for an education loan in Salem, by visiting the branch of education loan bank, ask for an education loan from the customer relationship manager. The offers and interest rate as per your eligibility, you have to provide all the necessary documents required.

Please make sure banks provide education loans for the Institution where you want to study.

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